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Page last updated at 15:47 GMT, Wednesday, 19 November 2008

Bristol seek investment of 2.5m

Bristol

Bristol Rugby chief executive Steve Gorvett has revealed the club needs about 2.5m in extra funding to survive in the Premiership.

The club already operates at a 1m annual loss and expects further losses because of the current economic climate and a 20% drop in attendances.

"By raising public awareness that we are looking for investment, a new group may come forward," said Gorvett.

"Our over-riding interest is securing the best future for Bristol."

He added: "If we want to compete at the top end of the league and bring Heineken Cup rugby here again, we need to have the funding in place.

"We are talking to several groups about new funding, including some of our current investors, but in simple terms we need to find an additional 2m-2.5m a year to compete."

Bristol spend 1m less than other clubs on their playing squad with the Premiership salary cap increasing from 3m to 4m this season.

The club secured their first Premiership win of the season on Sunday, beating Northampton 14-13.



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see also
Bristol 14-13 Northampton
17 Nov 08 |  English
Bristol name new chief executive
16 Jun 08 |  Bristol


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